The corporate world can be ruthless and highly competitive. Nonetheless, there are rules and regulations that must be followed.
You’ve worked hard for many years to establish your business and build a stellar reputation. Now, a competitor seems set on ruining this by being unfair in their practices. What are some common examples of unfair competition?
Disparaging your company
Everyone is entitled to their opinion, even your business rivals. However, there is a difference between this and spreading malicious statements that are false.
For instance, a rival firm may suggest that you treat your employees unfairly by paying them an extremely low rate. Perhaps, the rival company might make claims that your product is unsafe and should be removed from the market. These are serious allegations that could impact the profitability of your company. If they are not based on fact, then you may be able to hold your rival accountable in court.
Stealing your technology
Your company relies on unique technology and very specific methods. You initiated these methods and they cannot be replicated. This is what makes your business so successful. As a result, you’ve protected your methods and trade secrets with trademarks, Non-disclosure agreements and other legal instruments. However, your rivals have poached your technology and trade secrets via unethical means. In these situations, there may also be legal recourse available to you.
Building and running a business is hard enough without market competitors bending the rules. If you’ve been treated unfairly by a competitor, seeking legal guidance will help protect you, your business and your co-workers.